“We’re profitable in the USA, but we’re losing over $1 billion a year in China,” Kalanick told BetaKit. “We have a fierce competitor that’s unprofitable in every city they exist in, but they’re buying up market share. I wish the world wasn’t that way. I prefer building rather than fundraising. But if I don’t participate in the fundraising bonanza, I’ll get squeezed out by others buying market share.”

Last year, Kalanick told employees that the company would be profitable in Q2 of this year, according to Bloomberg. It’s not clear when Uber became profitable. TechCrunch has reached out to Uber and will update this story if we receive any additional information.

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OverviewUber is evolving the way the world moves. By seamlessly connecting riders to drivers through our apps, they make cities more accessible, opening up more possibilities for riders and more business for drivers. From their founding in 2009 to their launches in over 400+ cities today, Uber's rapidly expanding global presence continues to bring people and their cities closer.